This article offers help tips for unemployed individuals who have lost their health benefits.
Losing a job is one of the most stressful things a person can go through. With it, there is an abundance of hardships and headaches a person has to endure, and it often can be difficult for many to handle. After a job loss you have a barrage of disheartening troubles and burdens on your shoulders. You now have to worry about finding another job, paying your bills, putting food on your table, and probably the scariest aspect of unemployment, how you are going to be able to get your family medical treatment if they fall ill. Luckily, there are options for unemployed individuals to obtain a cheap health plan during this unfortunate period.
COBRA stands for Consolidated Omnibus Reconciliation Act, a federal law that has been in effect since 1986. Under this law, many employees and their dependents are able to continue on an employer’s group health plan, even after the coverage was set to end. There quite a few events that would warrant an insurance company to offer COBRA coverage. One of the most common reasons is the when the employee is voluntarily or involuntary terminated (with no issues of misconduct). For more information on COBRA benefits and if you would be eligible, it’s best to contact your insurance provider.
Purchasing Individual Health Insurance:
There are many Individual medical health plans on the market today that available to individuals who don’t have access to job-based coverage. These individual plan may not have as cushy packages as the employer-based plans, but they are often much more affordable than a formal policy from a big insurance company. To help out with savings there are also discount medical health plans that are essentially discount membership programs. These membership programs are great for providing even more discounts for those with existing insurance plans who need a little more help with costs that aren’t covered fully under their plan.
Medicaid is a government option that provides medical care for families with low-incomes. It became law in 1965 and is partially funded by the federal and state governments. There are several criteria for qualifying for Medicaid. These criteria include age, whether you are pregnant, disabled, blind or elderly. The program is state-administered so every state has it’s own guidelines and criteria. However, in ordered to receive federal funding, certain states must offer certain services like doctor visits, in-patient and outpatient hospital services, and long-term care services such as nursing homes.
Additional services, like prescription drug coverage, are state-based options and vary. If you end up qualifying for Medicaid, and don’t have prescription coverage, you can always look into the aforementioned discount medical health plans which offer discounts on prescriptions to members.
Alternative Healthcare Solutions:
As previously mentioned a health discount plan is a viable option for an uninsured or underinsured individual for many reasons. The two main reasons are that you can save a substantial amount of money, and any one can qualify, regardless of pre-existing conditions. These medical cards are available to any individual for a low-monthly fee and can save the card-holder substantial amounts of money on doctor visits and prescriptions.